Saeed Farahani’s Blog
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Vancouver Approves 3.9% Tax Hike for 2025
Vancouver City Council approves ↑ 3.9% property tax hike for 2025 to balance a $2.3B budget. The ↑ 3.9% hike includes ↑ 1% allocated for addressing a $500M infrastructure deficit.
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Vancouver rents dip for second year, report finds
Average rents in Vancouver decreased in December, with a one-bedroom apartment costing $2,512, down 7% from last year, and a two-bedroom unit averaging $3,430, a 6.3% drop. Overall, the average rent across all property types was $2,882, a 6% decline year-over-year. The national average rent was $2,109, marking a 17-month low. Increased supply and weakened…
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Metro Vancouver Home Sales Jump 28% in Mid-Q4
Metro Vancouver home sales rise by 28%, fueled by growing demand and stable market conditions. November recorded 2,181 home sales, with an average price of $1.17 million, down 0.9% year-over-year.
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Affordability Drives 2025’s Metro Vancouver Budget Reform
The review will analyze services and potential savings for the 2026 budget and five-year financial plan. Ballooning wastewater treatment costs, now $3.86 billion, highlight urgency for transparency and operational improvements.
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Vancouver’s Small Condos: Investor Takeover
Vancouver’s condo market is heavily influenced by investors, who own 34% of all condos. Over 58% of condos under 600 sq. ft. in Vancouver are owned by investors.
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Things Homeowners Should Check in Winter
Protect Pipes: Insulate exposed pipes to prevent freezing and bursting during cold weather. Seal Air Leaks: Check windows, doors, and outlets for gaps to save on heating costs.
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Real estate analysts say Vancouver trends point toward increasingly active 2025
Greater Vancouver home sales increased by 31.2% year-over-year in December, totaling 1,765 transactions, though still 14.9% below the 10-year seasonal average. Newly listed properties rose by 26.3% to 1,676. The composite benchmark price was $1,171,500, up 0.5% from the previous year. Overall, 2024 saw a 1.2% rise in home sales, but total transactions remained 20.9%…
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Vancouver Condo Market: Buyer’s Window Closing
Vancouver's condo market currently favours buyers, but rising demand could shift conditions by 2026. Limited pre-sale activity and slow construction will lead to a severe condo supply shortage by 2026.
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Metro Vancouver Housing Trends: Detached vs. Condo Living
A new survey reveals over 40% of Metro Vancouver residents prefer single-family homes. Preferences for single-family homes vary by income and frequency of moving in recent years.
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Vancouver’s Homebuying Surge Continues in Mid-Q4
Greater Vancouver sales: 2,166 homes ↑ 27.6% yearly Fraser Valley sales: 1,136 homes ↑ 27.5% yearly Listings & Active Inventory Greater Vancouver: 3,725 new listings ↑ Total active listings: 13,245 ↑ Fraser Valley: 2,637 new listings ↑ Total active listings: 8,125 ↑
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